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Let's break down the information given in the table step-by-step and provide a detailed solution to understand various terms and fees related to the four bank accounts labeled A, B, C, and D.
### Minimum Balance
Each account requires a minimum balance:
- Account A: \[tex]$500 - Account B: \$[/tex]250
- Account C: \[tex]$300 - Account D: \$[/tex]100
### Interest Rates
The interest rate provided for each account is as follows:
- Account A: 0.2%
- Account B: 0%
- Account C: 0.02%
- Account D: 0%
### Overdraft Fees
The fees charged when an account is overdrawn are:
- Account A: \[tex]$0 if linked with savings account, otherwise \$[/tex]40 per overdraft.
- Account B: \[tex]$35 per overdraft. - Account C: \$[/tex]25 per overdraft.
- Account D: \[tex]$25 per overdraft. ### ATM Usage Fees Fees for using ATMs for each account are detailed below: - Account A: \$[/tex]0 for all ATMs.
- Account B: \[tex]$0 for ABC bank ATMs; \$[/tex]3 for non-ABC bank ATMs.
- Account C: \[tex]$4 per transaction. - Account D: \$[/tex]3 per transaction.
### Monthly Fees
Monthly fees associated with maintaining each account:
- Account A: \[tex]$10, but \$[/tex]0 if there is a direct deposit.
- Accounts B, C, and D: \[tex]$0. ### Annual Fees The annual fees for each account: - Account A: \$[/tex]0
- Account B: \[tex]$10 - Account C: \$[/tex]0
- Account D: \[tex]$12 In summary: - Account A has higher minimum balance and monthly fee but offers interest and no ATM fees. - Account B has a moderate minimum balance, no interest, and limited ATM fees, with an annual fee of \$[/tex]10.
- Account C provides a small interest, moderate overdraft fee, and a high ATM fee per transaction, but no monthly or annual fee.
- Account D has the lowest minimum balance, moderate ATM and overdraft fees, and an annual fee of \$12.
This breakdown should help in determining which account might be best suited for different needs based on balance requirements, fees, and ATM usage.
### Minimum Balance
Each account requires a minimum balance:
- Account A: \[tex]$500 - Account B: \$[/tex]250
- Account C: \[tex]$300 - Account D: \$[/tex]100
### Interest Rates
The interest rate provided for each account is as follows:
- Account A: 0.2%
- Account B: 0%
- Account C: 0.02%
- Account D: 0%
### Overdraft Fees
The fees charged when an account is overdrawn are:
- Account A: \[tex]$0 if linked with savings account, otherwise \$[/tex]40 per overdraft.
- Account B: \[tex]$35 per overdraft. - Account C: \$[/tex]25 per overdraft.
- Account D: \[tex]$25 per overdraft. ### ATM Usage Fees Fees for using ATMs for each account are detailed below: - Account A: \$[/tex]0 for all ATMs.
- Account B: \[tex]$0 for ABC bank ATMs; \$[/tex]3 for non-ABC bank ATMs.
- Account C: \[tex]$4 per transaction. - Account D: \$[/tex]3 per transaction.
### Monthly Fees
Monthly fees associated with maintaining each account:
- Account A: \[tex]$10, but \$[/tex]0 if there is a direct deposit.
- Accounts B, C, and D: \[tex]$0. ### Annual Fees The annual fees for each account: - Account A: \$[/tex]0
- Account B: \[tex]$10 - Account C: \$[/tex]0
- Account D: \[tex]$12 In summary: - Account A has higher minimum balance and monthly fee but offers interest and no ATM fees. - Account B has a moderate minimum balance, no interest, and limited ATM fees, with an annual fee of \$[/tex]10.
- Account C provides a small interest, moderate overdraft fee, and a high ATM fee per transaction, but no monthly or annual fee.
- Account D has the lowest minimum balance, moderate ATM and overdraft fees, and an annual fee of \$12.
This breakdown should help in determining which account might be best suited for different needs based on balance requirements, fees, and ATM usage.
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